Price of wine expected to drop to lowest in years due to grape surplus

Consumer News

(CNN/KCRA) — It’s National Drink Wine Day, so let’s raise our glasses and toast to cheaper wine.

Whether you prefer red, rose, or white — pour a glass and enjoy this Tuesday. It’s National Drink Wine Day!

Wine lovers can toast to the lowest prices in 5 years thanks to a grape surplus in California.

It’s also due to lower demand, as Americans opt for liquor and cocktails.

The State of Wine Industry Report says wine prices could even be the lowest in the past 20 years because of the surplus of grapes.

The San Joaquin County Farm Bureau says some growers are choosing to leave grapes on the vine because it would cost more to produce.

The Wine Industry Report also says millennials don’t drink as much wine.

But the report says with lower prices, that may change.

It takes about 5 years for wine to go from the vine to the market.

So, it will take a while for supply and demand to even out.

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